Mid Wynd International (MYI) is standing by its Lazards fund managers after the £205m global growth investment trust was hammered in the sell-off of “AI losers” and underperformed its stock market benchmark by nearly 26% in the year to 30 June. Annual results showed the company made a total investment return of just 2% compared […]
Update: Baillie Gifford US Growth (USA) has published its defence document against Saba Capital, the activist hedge fund seeking to replace its board at the annual general meeting next month, saying shareholders should prevent the US firm from destroying the investment trust’s successful approach. Chair Tom Burnet said the £980m investment trust faced an “existential” […]
JPMorgan US Smaller Companies (JUSC) bounced back from a loss-making 2025 to post a 17.2% total investment return in the first half of the year. However, the £198m investment trust’s “strongly positive” gain in net asset value (NAV) trailed the 24.1% total return from its benchmark, the Russell 2000 index. JUSC shareholders also saw a […]
TwentyFour Income Fund (TFIF) is “deeply saddened” to announce the death of Joanne Fintzen, its senior independent director. Fintzen, who also served on the board of JPMorgan Claverhouse (JCH), was a solicitor and former European general counsel for Citigroup Alternative Investments. She joined the debt fund’s board as a non-executive director in 2019. Home REIT […]
Gore Street Energy Storage (GSF) has survived the attempt by Saba Capital to wind up the battery fund but has seen a big vote against its chairman. Nearly 56% of votes at today’s annual general meeting in London were against the activist hedge fund’s resolutions to discontinue the company and sell its assets. Turnout was […]
City of London (CTY), the biggest UK equity income investment trust, enjoyed a good year to 30 June with the mostly blue-chip portfolio keeping up with the rally in the FTSE All-Share and the company announcing a record 60th consecutive rise in annual dividends. Janus Henderson fund managers Job Curtis and David Smith delivered a […]
Ian Hargreaves, former lead manager of Invesco Asia Dragon (IAD), will retire from Invesco Fund Managers Limited next March after more than 30 years with the firm. Hargreaves was lead manager of the former Invesco Asia Trust from March 2011 to May 2024 before sharing the role with Fiona Yang, who will continue in her […]
Schroder Asian Total Return (ATR) fund managers have sounded the alarm over a potential bubble in Korean and Taiwanese technology stocks as well as the US artificial intelligence developers they supply, amid renewed signs that the immense capital spending on AI may be waning. Half-year results showed the £638m investment trust benefited from the boom […]
Gresham House Energy Storage (GRID) has rejected the call from PrimeStone Capital for the £565m battery fund to put itself up for sale saying its recovery strategy is working. Having consulted extensively with other shareholders since PrimeStone published its open letter on 30 June, GRID chair John Leggate said he had received strong support for […]
Update: Simon Bennett, chair of Alternative Income REIT (AIRE), has resigned after Glenstone director Adam Smith returned to the real estate investment trust’s board after winning control of the company last week. Smith, who stepped down from the AIRE board in July as Glenstone’s bid grew increasingly hostile, returns as a non-executive director with Stephanie […]
